BTC Holds Above $28k Ahead of Fed Rate Decision

WASHINGTON D.C. – Bitcoin (BTC) maintained a valuation above $28,000 on Wednesday, just hours before the Federal Reserve releases its quarterly Summary of Economic Projections. The decisions will be published at 2:00 pm ET. 

Fed's quarter-point rate hike odds pic.twitter.com/6x6vJ7siqQ

— Stocktwits (@Stocktwits) March 22, 2023

An increasing number of institutional investors see bitcoin’s inflation-proof ecosystem as a safe haven in the ongoing recession, the current inflation rate, and the recent banking crisis. 

Expectations that the U.S. central bank will raise interest rates by 25 basis points have increased among Fed watchers over the past 7 days.